Tax

Tax News & IRS Insights for Accounting Professionals

Accounting Today delivers news and analysis for accounting and tax professionals on federal and state tax developments, IRS guidance,information reporting, and operational implications for practices and clients. Our coverage focuses on legislative and procedural shifts that tax practitioners must monitor in planning, compliance, and advisory contexts.

AT Think Poor software training can cause costly gaffes in tax season

The reality is that traditional 'one and done' software training is insufficient.

March 15

Krishna Dunthoori

Apty
Politics and policy

The definition of 'rich' — and its impact on taxes

President Biden wants the wealthy to "pay their fair share." Ex-President Trump calls for "the biggest tax cuts." But labeling people as rich creates massive policy challenges.

By Tobias Salinger
Chief Correspondent

March 15
International taxes

Austrian heiress wishes her €25M fortune had been taxed

Marlene Engelhorn plans to let 50 strangers decide the fate of her inheritance.

By Sophie Alexander
Reporter

March 15
Technology

Tech news: Thomson Reuters to rebrand to emphasize AI

Plus, LeaseCrunch offers webinar on GASB 87, 96; and other accounting technology news.

By Chris Gaetano
Technology Editor

March 15
Tax-related court cases

Tax Fraud Blotter: A naughty streak

Nothing sacred; on the Lamborghini; Empire lost; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

March 14
Practice and client management

The QBI deduction's impact is as murky as its rules, report finds

Financial advisors and tax pros say the exemption poses a lot of complexity — and substantial savings. But it could go away at the end of next year.

By Tobias Salinger
Chief Correspondent

March 14
IRS

IRS taps next head of Criminal Investigation

Guy Ficco, the current deputy chief of IRS CI, will be the new chief, succeeding Jim Lee.

By Michael Cohn
Editor-in-chief, AccountingToday.com

March 13

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax season postmortem: What to fix for 2027

Join us for a transparent look at the challenges facing firms this year and how to overcome them for 2027.

Partner Insights from Canopy
On-Demand Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks

Tax: Key Questions & Analysis:

What IRS guidance on forms and information reporting should practitioners prioritize?

The IRS continues to update thresholds and instructions for critical tax forms. This includes changes to information reporting requirements and guidance on evolving reporting standards, affecting 1099, W-2 and similar reporting obligations.

What procedural developments affect IRS automatic change consent for method changes?

Tax professionals must understand which accounting method changes qualify for automatic consent versus advance consent. This determines whether a Form 3115 must be filed with IRS National Office or via automatic procedures.

How are tip-related tax provisions evolving under current policy?

New tax provisions related to tip income will impact how service industry clients and payroll units handle tax reporting and compliance. This includes draft schedules and withholding considerations.

What IRS guidance will shape compliance for the 2026 filing season?

Practitioners will need to understand procedural updates, forms changes, and reporting shifts that will affect compliance workflows and client expectations for the 2026 filing season. This includes the implementation timeline for new schedules and reporting requirements as well as for emerging areas such as crypto broker reporting.